Thailand: Prices expected to remain high

A survey of company CEOs found that the price of goods was expected to remain high for at least three more months because of the high cost of production and fuel, the Federation of Thai Industries announced on Monday.

FTI vice chairman Wirat Uanarumit said 150 chief executive officers were surveyed this month.

They blamed high prices on the shortage of raw materials and rising costs of production and fuel.

“High prices will continue for at least three months or possibly until the end of this year if energy prices remain high,” he said.

He warned that businesses could freeze their present prices for only 1-2 months.

Mr Wirat suggested the government help people by reducing charges for electricity, water and transport and cutting taxes on oil and other essential goods.

He said the CEOs expected inflation to run at 2-4% this year.